Liquid exchange canceled the results of the pre-sale of Gram tokens
Japanese cryptocurrency exchange Liquid has canceled the sale of not yet existing tokens of the Telegram blockchain project.
The sale was originally announced last June. Liquid has offered investors a limited number of future tokens to Gram Asia, allegedly one of the largest investors in Telegram’s $ 1.7 billion ICO.
The funds raised from users of the exchange were in the escrow wallet pending the release of the Gram, which was to take place at the end of October. However, Telegram was forced to reconsider its plans because of the US Securities and Exchange Commission (SEC) charge of violating campaign registration requirements..
In its blog, Liquid writes that the terms of sale of Gram on its platform stipulated that the launch of TON was to take place before November 30, 2019. Since this did not happen, the results should be considered invalid..
In a conversation with CoinDesk, Liquid’s Chief Commercial Officer Seth Melamed stated, “100% of client funds will be returned to members. No commissions or fees “.
Liquid unveils escrow wallet address that currently contains no assets.
SEC and Telegram expected to meet in court on February 18-19.
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